SBS Q2 Net Revenues Up 9% to $38.5 Million, Loss Narrows

RADIO ONLINE | Thursday, August 29, 2024

Spanish Broadcasting System reported a 9% increase in net revenue from continuing operations, totaling $38.5 million compared to $35.4 million in 2023. Operating income from continuing operations surged 66% to $9 million, up from $5.4 million. Total operating expenses from continuing operations were $26.4 million, a 3% increase from $25.5 million in the prior-year. The company posted a net loss of $0.3 million, a significant improvement from the $8.5 million net loss reported in the same quarter of 2023.

Chairman and CEO Raul Alarcon commented, "We are pleased with our solid performance this quarter, reflecting our strategic focus on special events and digital expansion. The reduction in corporate expenses further strengthens our financial position as we continue to navigate the evolving media landscape."